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John Hancock- Custom Care II
MetLife- VIP & VIP2 Series
MedAmerica- Simplicity
Prudential- LTC by Design
Prudential- LTC3
Mass Mutual- Signature Care-400
John Hancock- Custom Care II
Corporate Solutions offers three types of underwriting programs for the employees, spouses and family members continue to benefit from the discount but are fully underwritten.
- Modified Guaranteed Standard Issue (MGSI)
- Simple, shortest application, STANDARD RATES for entire group including family members and spouses.
- Four "knock-out" questions, no other underwriting requirements, EMPLOYEES Only
- 3% of eligible employees or 15 employee lives whichever is greater, must apply and be approved within the 60 day enrollment period
- Monthly benefit amounts $1500 - $6000
- Benefit periods: two, three, four or five years maximum.
- Discount - 5% Max discount 33.5%
- Modified Guaranteed to Issue (MGTI)
- Simplified Application and Process
- 12 Medical Questions plus Telephone Interview and possible APS
- 3% of eligible employees or 15 employee lives, whichever is greater, must apply and be approved within the 60 day enrollment period
- All benefit options and riders are available except for lifetime benefit period
- All Rate Classes available
- Discount - 5%, Max discount 43%
- Sponsored Group Program
- Full Underwriting for employees and family members.
- All Underwriting questions required plus PHI and APS requirements
- All Rate Classes Available
- Five applications within 60 days of group approval
- All benefit options available including Lifetime benefit period.
- Discount - 5%, Max Discount 43%
Custom Care II Product Highlights:
- Double coverage for accidents benefit
- Return of premium at death prior to age 65 in base policy
- 10 Pay, Paid -Up at age 65
- Enhanced Return of Premium at Death
- Daily or Monthly Reimbursement
- New Inflation option introduced- 5%/3%
- Home Care Waiver of Elimination, Shared Care, Survivorship Riders
MetLife- VIP & VIP2 Product Series
MetLife offers five Multi-Life options:
- Voluntary Simplified Underwriting
- Shortest form application - 5 medical questions for employees only, employees must be under age 66 to use the simplified application.
- 10 Employees or 15 Employees and Spouses
- Preferred Health Discount not available
- Spouses and family members are all subject to Full Underwriting
- Maximum Daily Benefit is $200
- Maximum Benefit Period is 5 years
- 5% Discount - Maximum Discount 24%
- No Commission reduction
- Voluntary Full Underwriting
- Long form application for employees, spouses and family members
- 10 Participants
- Preferred Health Discount available
- Maximum Daily Benefit is $400
- Maximum Benefit Period is unlimited
- 5% Discount - Maximum Discount is 33.5%
- No Commission reduction
- Employer Paid Simplified Underwriting
- Shortest form application - 5 Medical questions for employees and spouses
- Full underwriting for all other eligible family members
- A combination of 10 Employees and Spouses
- Preferred Health Discount not available
- Maximum daily benefit is $200
- Maximum benefit period is 5 years
- 10% Discount - Maximum Discount is 28%
- Issue ages 18-65
- No Commission reduction
- Employer Paid Full Underwriting
- Long form application for employees, spouses and family members
- 10 Participants
- Preferred Health Discount available
- Maximum Daily Benefit is $400
- Maximum Benefit Period is unlimited
- 5% Discount - Maximum Discount is 33.5%
- No Commission reduction
- Association Voluntary Full Underwriting
- Long form application for members, spouses and family members
- 10 Participants
- Preferred Health Discount Available
- Maximum Daily Benefit is $400
- Maximum Benefit Period is Unlimited
- 5% Discount - Maximum Discount 33.5%
- No Commission reduction
MetLife VIP Product Series Highlights
- Daily or Monthly Reimbursement, or Professional Indemnity
- Cash Option with the Premier Product
- Return of Premium Rider-less benefit paid
- Survivorship built into Ideal and Premier
- Facilities Only Option
- 10 Pay, Paid Up at 65, Reduced Premium at 65 and Double Pay First Year premium payment options
- International Coverage-50% of the home care is paid in cash for up to 8 years or the policy limit,whichever is less.
MetLife VIP2 Product Series Highlights
- Daily or Monthly Reimbursement, or Professional Indemnity
- Cash Option, with the Premier Product
- Home care Waiver of Elimination Rider
- Return of Premium Rider-less benefits paid
- Survivorship rider
- Service or Calendar day elimination periods
- Facilities Only Option
- 10 Pay, Paid Up at 65, Reduced Premium at 65 and Double Pay First Year premium payment options
- International Coverage-50% of the home care is paid in cash for up to 10 years or the policy limit, whichever is less.
MedAmerica- Simplicity
Medamerica Simplicity Affiliation Program- 10% Discount
Available to affiliation members
Spouses or Domestic Partners of Affiliation Members
Children/Stepchildren or Adopted Children
Grandparents/Grandparents-in-law
Brother/Sister/Brother-in-law/Sister-in-law
Medamerica Simplicity Employer Program- 10% Discount
Only cases comprised of employees participating under the sponsorship of an employer
Employees
Retirees
Spouses and Domestic Partners of Employees or Retirees
Children/Stepchildren or Adopted Children of employees
Parents/Parents-in-law of employees
Brother/Sister/Brother-in-law/Sister-in-law
Simplicity Affiliation Program Details
- Affiliation Program- Minimum of 5 members, must be member based, have a consitution and by-laws, be active
at least one year, hold regular meetings with member voting privileges and provide verifying documentation upon company request, or:
Be composed of a class of employees working for a single employer.
- Full Underwriting
- All medical questions and subsequent PHI and APS requirements.
- All Rate Classes Available including Preferred.
- Participants must be between ages 18 - 85.
- One Participant is required out of a minimum size group of 5.
- All coverage options available
- Discount - 10% Discount for Members, Partners of members, and Family members of members in addition to spousal and health discount.
- Direct Bill, List Bill, Payroll Deduction are available Billing Options
- Commission reduction of 5% FYC and 5% for years 2-10.
Simplicity Employer-Program
- Employees who are age 65 or less, working more than 30 hours per week are eligible for Simplified Underwriting, all others Full Underwriting.
- Four medical questions including hospitalization within the past year.
- No Phone health interview
- 10 applications from eligible employees must be submitted and approved to initiate the simplified program.
- All participants receive Standard Rates.
- Employee Participants must be between the ages 18 - 65.
- All other Participants must be between the ages of 18-85.
- Discount- 10%
- Direct Bill, List Bill and Payroll Deductions Voluntary-10 participants min.and Employer-Paid-5 Participants min.
- All applicants issued Standard Rates - no preferred discount available.
- Commission reduction of 25% FYC and 5% for years 2-10.
BENEFITS AVAILABLE UNDER SIMPLICITY EMPLOYER PROGRAM:
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OPTIONS
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FACILITY MONTHLY BENEFIT
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COMMUNITY MONTHLY BENEFIT
OPTIONS
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LIFETIME MAXIMUM
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ELIMINATION PERIOD
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A
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$2100 -
$6300
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60%,80%, or 100%
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24, 36,
48 or 60 Months
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30,60 or 90 Calendar Days
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B
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$6600 -
$8400
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60%, 80%
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24, 36, 48
or 60 Months
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30,60 or 90 Calendar Days
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Simplicity Product Highlights
- CASH ONLY
- Submission of provider bills, proof of loss or other information on benefit usage are not required
- Full Return of Premium & Less Benefits Return of Premium.
- 10 Pay, Paid Up at 65, Reduced Premium at 65 or 70
- Great product for high income employees, younger people & those capped on disability.
- Inflation options- include None, 5% Compound-2x maximum, 5% Simple, 5% Compound.
- Home Care Only policy available
- Calendar Day Elimination Period
- 100% International Coverage
- Unlimited benefits not available under age 50.
- Shared Care, Restoration of Benefits, Shared Waiver, Survivor Benefits, Full ROP and ROP Less benefits paid. The Return of Premium is available to enrollees under 75 and the Full Return of Premium available to employees under 65
Prudential- LTC By Design
Employer Sponsored Program
- 10% Discount to Employees
- 5% Discount to Spouses and Qualified Adults (QA)
- 10 employees or 10% of total eligible Employees - whichever is greater
- Ages 18 - 70. All applicants over age 70 are subject to Full Underwriting
- Modified underwriting available for employees purchasing within certain limited benefits. Maximum daily benefit $200 with 50% HC or $150 with 100% HC, maximum benefit period is 5 years.
- Full underwriting for buy-up for employees and spouses and Qualified Adults, Preferred class available
- No preferred health discount for employees applying for modified underwriting
- Commission reduction, 7.5% Year 1, 5% years 2-10, and 1% in years 11+
Prudential Affiliation Program
- 5% Discount Employees, Spouses, Parents and Qualified Adults
- 5 enrollees over first 6 months
- Age limitations 18 - 84
- Full underwriting required in all instances
- 15% Preferred Health Discount available to all participants
- No limitations of coverage. All benefits/options available
- Commission reduction, 5% year 1, 4% Years 2-10 and .5% years 11+
Prudential LTC by Design Product Highlights:
- Daily or monthly reimbursement
- CASH option with Full International Coverage
- Calendar Day elimination period
- 10 Year Paid up policy
- Domestic Partner discounts
- Survivor Options Available
- Joint Waiver Options Available
Prudential- LTC3
Employer-Sponsored Program
- 10% Discount to Employees, simplified underwriting available.
- 5% Discount to Spouses and Qualified Adults (QA), full underwriting for spouses and partners.
- 10 employees or 10% of total eligible Employees - whichever is greater
- Ages 18 - 70. All applicants over age 70 are subject to full Underwriting and home office approval.
- Full underwriting for buy-up for employees and spouses and Qualified Adults, Preferred class available.
- Eligible employees must work at least 30 hours per week.
- Full underwriting for buy-up for employees and spouses and Qualified Adults, Preferred class available
- No preferred health discount for employees applying for modified underwriting
- Choose from 3 Benefit Options
- A-$50-200 Max Daily Benefit and 100%, 75% or 50% Home and Community Based Care (HCBC)
- B-$50-$150 Max Daily Benefit and 50% HCBC and Cash Benefit Option
- C-$50-$200 Max Daily Benefit and 50% HCBC and Cash Benefit Option on an Employer Paid Basis. 100% Participation is required.
- Maximum benefit period is 5 years
- Elimination periods- 60,90, 120, 180 or 365 days
- Commission reduction, 7.5% Year 1, 5% years 2-10, and 1% in years 11+
Prudential LTC3 Affiliation Program
- 5% Discount Employees, Spouses, Parents and Qualified Adults
- 5 enrollees over first 6 months
- Age limitations 18 - 84
- Full underwriting required in all instances
- 15% Preferred Health Discount available to all participants
- No limitations of coverage. All benefits/options available
- All applicants are direct billed
- Commission reduction, 5% year 1, 4% Years 2-10 and .5% years 11+
Prudential LTC3 Product Highlights:
- All base reimbursement contracts have a 40% Cash alternative benefit for any particular month.
- Flexible cash option allows 50% Cash and 50% Reimbursement each month.
- 100% CASH option with Full International Coverage.
- Home Support Services covers Transportaion services.
- Calendar Day elimination period only
- Restoration of benefits built into each contract.
- Calendar Day elimination period only
- 150% Home Care Option
- Domestic Partner discounts
- Survivor Options Available
- Shared Care
- Joint Waiver Options Available
Mass Mutual- Signature Care-400
Mass Mutual Signature Care 400 Series Employer Program:
- Full underwriting for all employees & family members
- 10% discount in all years for all states except California which is a 15% discount (200 Series)
- All Underwriting questions plus PHI and APS requirements.
- All benefit periods and options are available.
- An employer with three or more employees.
- Associations, labor unions, and trade or professional organizations with 10 or more members, in active existence for at least two years, having a constitution and bylaws, and formed in good faith for purposes other than obtaining product discounts or insurance.
- Only one eligible employee must apply and be approved- 3 employees minimum.
- A list bill for employer groups with at least three policies on the list billing.
- Normal billing methods (annual, semi-annual, quarterly, or monthly bank withdrawal).
- Commission Reduction of 15% in year 1, 3% years 2-5, 1.5% years 6-10. NY Commission reduction is 15% in Year 1 and 5% years 2-10.
- Liberal guidelines regarding acceptable groups
Employer Underwriting Concessions for Mass Mutual
- Applicants under age 40 will be considered when part of a qualified group, using age 40 rates.
- Rating concessions may be considered when 25 or more cases are submitted together, with application dates falling within a two-week period. The rating class of each applicant may be improved by one class; however, uninsurable applicants are not eligible for coverage and smokers are not eligible for the Ultra Preferred rate. The number of applicants in good health needs to offset the number of applicants that are less healthy.
Signature Care-400 Association Program
- Associations, labor unions, Chamber of Commerce, and trade or professional organizations with 10 or more members, existence for at least 2 years, having a constitution and by-laws and formed in good faith for the purpose other than buying insurance.
- 10% discount in the first year only. California is a 15% discount for all years (200 Series)
- Approval of groups with larger than 100 members, a detailed marketing plan must be submitted.
Signature Care-400 Product Highlights
- Joint Policy can represent significant tax deductions for LLC members & Sole Proprietors
- Full Return of Premium Benefit available under the full non-forfeiture option
- Limited Pay Options include 10-Pay & 20- Pay Plans
- 3 underwriting classes, Ultra-preferred, Preferred and Standard.
- Premium for the younger spouse is 30% that of the older spouse's.
- One insured out on claim, the premium is waived for both.
- Domestic Partners can obtain the joint discount.
- Home Care Waiver of Elimination Period
- Third Party Ownership
- Limited Family Caregiver Benefit- 365 days of family care.
- Daily Reimbursement,Monthly Reimbursement or Professional Indemnity
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